Topic: Government Budgeting.
4. Critically examine the potential of the Union Budget 2022-23 to create meaningful employment and long-term sustainable growth. (250 words)
Difficulty level: Tough
Reference: Indian Express
Why the question:
A crisis is also a crucible of reform. The Union budget 2022-23 strives to enact economic reforms for the country that is recovering from the pandemic and pave the pathway for its robust rise in the coming years. It speaks of an outlook for India@100 in preparation for a post-Covid world order.
Key Demand of the question:
To write about the potential of Union budget to create employment and growth in India.
Directive word:
Discuss – This is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.
Structure of the answer:
Introduction:
Start by giving statistic related to current scenario of employment and growth in India.
Body:
In the first part, mention the various announcements in the union budget aimed at stimulation employment and growth – Rs 7.5 trillion as capital expenditure, incentivised state governments, special emphasis on Economic infrastructure, Social infrastructure and digital infrastructure.
Next, write about potential benefits that India can accrue from the above and also the limitation of the same.
Conclusion:
Conclude with way forward as to how India should overcome the above limitations to have a robust growth and employment.
